Business PLanning at Universität Magdeburg

Flashcards and summaries for Business PLanning at the Universität Magdeburg

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Study with flashcards and summaries for the course Business PLanning at the Universität Magdeburg

Exemplary flashcards for Business PLanning at the Universität Magdeburg on StudySmarter:

Seven Habits of High Effectiveness
(Stephen R. Covey)

Exemplary flashcards for Business PLanning at the Universität Magdeburg on StudySmarter:

They way from Dependence to independence (7 ways of high effectiveness)

Exemplary flashcards for Business PLanning at the Universität Magdeburg on StudySmarter:

Be Proactive (7 habits of high effectiveness)

Exemplary flashcards for Business PLanning at the Universität Magdeburg on StudySmarter:

Begin with the end in mind -  difference between alternative and value focussed thinking (seven habits of high effectiveness)    

Exemplary flashcards for Business PLanning at the Universität Magdeburg on StudySmarter:

Reaching interdependence from independence (The Seven Habits
of Highly Effective
People)

Exemplary flashcards for Business PLanning at the Universität Magdeburg on StudySmarter:

Think win-win (The Seven Habits
of Highly Effective
People)

Exemplary flashcards for Business PLanning at the Universität Magdeburg on StudySmarter:

Sharpen the saw (The Seven Habits
of Highly Effective
People)

Exemplary flashcards for Business PLanning at the Universität Magdeburg on StudySmarter:

What is the oppertunity based question of Entrepreneurship-Research

Exemplary flashcards for Business PLanning at the Universität Magdeburg on StudySmarter:

What is the human-type-based question of Entrepreneurship-Research

Exemplary flashcards for Business PLanning at the Universität Magdeburg on StudySmarter:

Definition Value Creation

Exemplary flashcards for Business PLanning at the Universität Magdeburg on StudySmarter:

Seven Sources for Innovative Opportunities

Exemplary flashcards for Business PLanning at the Universität Magdeburg on StudySmarter:

Key questions for identifying opportunities

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Exemplary flashcards for Business PLanning at the Universität Magdeburg on StudySmarter:

Business PLanning

Seven Habits of High Effectiveness
(Stephen R. Covey)
1. Be proactive
2. Begin with the end in mind
3. Put first things first
4. Think win-win
5. Synergize
6. Seek first to understand, then to be understood
7. Sharpen the saw

Business PLanning

They way from Dependence to independence (7 ways of high effectiveness)
1. be proactive
2. Begin with the end in mind
3. Put first things first
-> leads to private victory

Business PLanning

Be Proactive (7 habits of high effectiveness)
everything is created twice: mentally (a plan is created) and physically (the plan is implemented)
proactive people write roles for themselves and for others

Business PLanning

Begin with the end in mind -  difference between alternative and value focussed thinking (seven habits of high effectiveness)    
value focussed thinking:
-> Proactive Planning:
Conceptualization of a desired
future and the search for
ways to reach this state as
effectively as possible.
-> Take the best – make it reality
-> unconstrained thinking

Alternative-Focussed
Thinking
-> Reactive Problem Solving:
Moving away from something
undesired, does not bring you
closer to something desired.
-> Take whatever is available –
choose the best alternative
-> Constrained
Thinking

Business PLanning

Reaching interdependence from independence (The Seven Habits
of Highly Effective
People)
1. Think win-win
2. Seek first to understand, then to be understood
3. Synergize
-> leads to public victory

Business PLanning

Think win-win (The Seven Habits
of Highly Effective
People)
A compromise is the art
of dividing a cake in such a way
that each party believes
to have received the largest piece.
Ludwig Erhard

Business PLanning

Sharpen the saw (The Seven Habits
of Highly Effective
People)
- mental (reading, planning, writing)
- physical (exercise, nutrition, stress management)
- social (empathy, engagement)
- spiritual (value clarification, meditation)

Business PLanning

What is the oppertunity based question of Entrepreneurship-Research
 Why, when, and how do opportunities for the creation of
goods and services come into existence?

Business PLanning

What is the human-type-based question of Entrepreneurship-Research
Why, when, and how do some people and not others
discover and exploit these opportunities?

Business PLanning

Definition Value Creation
Value Creation
= perceived benefits of customer (B) - average cost of production (C)
= B-C
= (B-P)+(P-C)
= Consumer Rent + Producer Rent

Business PLanning

Seven Sources for Innovative Opportunities
Within an Enterprise or Industry
1. The unexpected
success, failure, external events
2. Discrepancies
between economic realities, between reality and assumption, between
perceived and actual customer view, in the internal process
3. Process Necessities
4. Changes in the industry or market structure
Outside an Enterprise or Industry
5. Demographic changes
6. Changes in perception, meaning, or attitude
7. New Knowledge

Business PLanning

Key questions for identifying opportunities
• “What would Croesus do?”
• “Why don’t you feel my pain?”
• “Where else would it work?”
• “Would flipping it work?”

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